Language of Real Estate

Subordination vs. Subrogation

Subordination vs. Subrogation Subordination means to give up priority to an anticipated future mortgage or lien, whereas subrogation means to substitute a creditor who succeeds to the rights of another. Subrodination -- An agreement whereby a holder of a prior...

read more

Easement vs. License

Mistaken Identity -- Easement vs. License An easement is a permanent right in property, whereas a license, which is not an interest in property, is a temporary right to use that property and may be revoked at any time. Easement -- A nonpossessory (incorporeal)...

read more

Chain of Title vs. Cloud on Title

Chain of Title vs. Cloud on Title The chain of title reveals the succession of owners in the history of a property, whereas a cloud on title is a defect or impairment in the title. Chain of Title --  The recorded history of matters that affect the title to a specific...

read more